Schmidt P J Investment Management Inc. Has $7.81 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Schmidt P J Investment Management Inc. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,933 shares of the semiconductor company’s stock after selling 117 shares during the period. Analog Devices accounts for about 1.3% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 22nd largest position. Schmidt P J Investment Management Inc.’s holdings in Analog Devices were worth $7,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. New Millennium Group LLC acquired a new position in shares of Analog Devices during the second quarter valued at about $29,000. ORG Partners LLC grew its stake in Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 135 shares during the period. CVA Family Office LLC increased its holdings in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Analog Devices during the second quarter worth approximately $37,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Analog Devices in the 1st quarter worth $40,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Edward H. Frank sold 500 shares of Analog Devices stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the sale, the director now owns 4,748 shares of the company’s stock, valued at approximately $1,078,935.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,640,975.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is owned by insiders.

Analog Devices Trading Up 1.2 %

Shares of Analog Devices stock opened at $229.68 on Friday. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $244.14. The firm has a market cap of $113.97 billion, a PE ratio of 53.66, a P/E/G ratio of 3.87 and a beta of 1.07. The stock has a fifty day moving average price of $226.59 and a 200-day moving average price of $221.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the firm posted $2.49 EPS. The business’s revenue was down 24.8% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is currently 85.98%.

Analysts Set New Price Targets

ADI has been the topic of a number of recent research reports. Truist Financial cut Analog Devices from a “buy” rating to a “hold” rating and cut their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Bank of America cut their target price on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Barclays increased their target price on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Morgan Stanley increased their target price on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.